It has become clear that there is a shift away from the expensive, all-in-one, type of financial solutions for real-time traders, passive investors, and those tangentially interested in financial market information.
For First Time Since World War II, "Right-Wing, Anti-Immigrant, Euroskeptic" Set To Become President Of AustriaSubmitted by Tyler Durden on 05/22/2016 11:49 -0400
One month ago, pro-European voices in Austria, and all of Europe, were suddenly muted when in the first round of the Austrian presidential election, Norbert Hofer head of Austria Freedom Party (FPO), described as a "Euroskeptic, right-wing, anti-immigrant party" crushed his opposition buoyed by a migration crisis that has heightened fears about employment and security across the continent, and gathered a whopping 35% of the vote leaving the other five legacy candidates far behind. Today, Austria holds the decisive, run-off round between Norbert Hofer and former Greens leader Alexander van der Bellen, which according to preliminary opinions polls was set to be a close vote... although probably not that close.
Sell paper and digital gold, maybe but not physical gold coins and bars. Rather both physical gold and silver bullion should be owned as financial insurance and hedges against currency debasement, bail ins, systemic and counter party risks and the myriad other risks today.
With so many American corporations on their sickbeds, it’s a good thing we have Obamacare. Almost all of the returns since 2009 have been due to stock share buybacks! Now buybacks are in decline.
The United States conducted a drone strike on Saturday against the leader of Afghan Taliban, Mullah Akhtar Mansour, likely killing him on the Pakistan side of the remote border region with Afghanistan in a mission authorized by U.S. President Barack Obama. The assassination could further fracture the Taliban - an outcome that experts cautioned might make the insurgents even less likely to participate in long-stalled peace efforts. Alternatively, it could lead to far more violent and deadly retaliation against the US both in Afghanistan and around the world.
Following a shooting on the West Executive Drive, one person has been shot and is in critical condition after brandished weapons as he approached a White House checkpoint. Meanwhile Obama was out golfing...
Oklahoma's Republican-dominated legislature has filed a measure calling for President Barack Obama's impeachment over his administration's recommendations on accommodating transgender students, saying he overstepped his constitutional authority. Lawmakers in the socially conservative state are also expected to take up a measure as early as Friday that would allow students to claim a religious right to have separate but equal bathrooms and changing facilities to segregate them from transgender students.
Having cashed out a few hundred million dollars worth of stock to some dliuted greater fools - with the help of Goldman Sachs - the ugly face of reality of descending on Elon Musk and his government-subsidized car maker. Rather shockingly, given the huge demand, automaking consultants and supply executives, who asked not to be identified, admitted that Tesla has still not finalized the Model 3 design and specifications, warning that Musk's goals were "implausible."
Just days after a report that two Chinese J-11 fighter jets buzzed a US spy plane above the South China Sea, Beijing has officially escalated its displeasure at US surveillance up the chain of command and as Reuters reports, Beijing has demanded an end to all U.S. surveillance near China. "It must be pointed out that U.S. military planes frequently carry out reconnaissance in Chinese coastal waters, seriously endangering Chinese maritime security," China's Foreign Ministry spokesman Hong Lei Hong told reporters, adding that "we demand that the United States immediately cease this type of close reconnaissance activity to avoid having this sort of incident happening again."
- Lacking new ideas, G7 to agree on 'go-your-own-way' approach (Reuters)
- Japan's Aso tells G7 FX stability vital, no competitive devaluations (Reuters)
- Snubbed by West, Russia rolls out red carpet for Asian leaders (Reuters)
- The Fed Has Something to Prove to Wall Street (BBG)
- Trump's Supreme Court list: all conservative, some provocative (Reuters)
- Nasdaq Raises Lawsuit Threat Over SEC’s IEX Speed-Bump Plan (WSJ)
China is livid: as a result of record Chinese steel dumping, the US unleashed what is nothing short of a nuclear bomb in its rapidly escalating trade war with China, by imposing duties of 522% on cold-rolled steel used in automobiles and other manufacturing. In doing so it has effectively rendered Chinese exports to the US unsustainable and will force even more excess Chinese production to remain landlocked within China's borders, making the domestic glut that much worse.